Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(To read more on the industrial market, click here.)

ELKRIDGE, MD-Liberty Property Trust has signed the first tenant for its new flex-use development in Elkridge. The project, called Highpoint 100, will total 225,600 sf, and consists of two single-story flex buildings: a 99,600 sf building at 7351 Coca Cola Dr. and a 126,000-sf building at 7361 Coca Cola Dr. The project will cost approximately $92 per foot including transactions costs.

Liberty plans to break ground on the first building midsummer and deliver it in spring 2007. The tenant, Dynamic Designs Enterprises and SWC Inc., will occupy 50,000 sf, using the space as headquarters for the design and manufacturing of men’s golf apparel and ladies tennis wear. Construction on the second building will begin contingent upon a prelease and has an expected schedule of eight months. Rental rates average $6.75 per sf from cold dark shell, triple net, according to Lisa Sullivan, vice president of leasing and development.Sullivan tells GlobeSt.com that Liberty is targeting flex-use tenants that are 20% to 50% office users and would like a higher-level finish on the exterior of the building. “We are going after a market that we don’t think has been adequately captured by existing product,” Sullivan says. Essentially, these are tenants that still require the warehouse functionality of flex use but would like a more corporate or quality image for its office space. Liberty is currently scouting additional land sites in Maryland to replicate this concept, looking at parcels in Hartford and Frederick counties, she says.

Liberty also has plans to expand another development–a class A office facility– called Liberty Place in Columbia on Old Dobin Lane, Sullivan says. It is a five-building complex consisting of four one-story and one two-story buildings totaling 188,515 sf that is 98.7% leased. “We anticipate breaking ground on a new, two-story, 64,500-sf building in August,” Sullivan says.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt
Live Chat

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.